Job Market Monitor
Michel Cournoyer
Cisco – 1,300 jobs cut
Network equipment maker Cisco Systems said on Monday that it plans to cut about 1,300 jobs as part of ongoing efforts to restructure the company. “We are performing a focused set of limited restructurings that will collectively impact approximately 2 percent of our global employee population,” the company said in an emailed statement. These actions … Continue reading
Behavioural Interviewing – A Guide
WHAT IS BEHAVIOURAL INTERVIEWING? Behavioural interviewing is based on the premise that relevant past behaviour is the best predictor of future behavior. So instead of asking how candidates would behave in a particular situation, a behavioural interview question will ask how them how they did behave. For example, instead of asking “How would you resolve … Continue reading
Krugman – Macro 101 – Sticky Wages
A bit more methodology discussion. I’ve written quite a lot about sticky wages, aka downward nominal wage rigidity, which is one of those things that we can’t derive from first principles but is a glaringly obvious feature of the real world. But I keep running into comments along the lines of “Well, if you think … Continue reading
India – Tirupur – Tamil Nadu – Shut Down and layoffs
For years, Tirupur kept its date with major global sporting events where T-shirts and jerseys knitted in the Tamil Nadu hosiery town catered to tens of thousands of sports fans. At the Euro 2012 soccer championship, though, Tirupur was missing from the action. “We got orders for Euro T-shirts this year too but could not … Continue reading
Citigroup – 350 Job Cuts in Securities Division
Citigroup Inc. (C), the third-biggest U.S. bank, plans to cut about 350 additional jobs this year from the securities division, which includes investment banking and trading, according to a person with knowledge of the matter. The reduction equals about 2 percent of the unit’s staff, according to the person, who asked for anonymity because the … Continue reading
China – A demographic perfect storm is coming
The idea that the so-called “demographic dividend” is coming to an end for China is not a new one. Yet not many people are sufficiently aware of the consequence of ageing (and shrinking) population. Population ageing poses a headwind to asset prices, real estate in particular. Population ageing is somewhat associated with lower inflation (if … Continue reading
Greece – In Great Depression PM says
Greece is in a “Great Depression” similar to the American one in the 1930s, the country’s Prime Minister Antonis Samaras told former U.S. President Bill Clinton on Sunday. Samaras was speaking two days before a team of Greece’s international lenders arrive in Athens to push for further cuts needed for the debt-laden country to qualify … Continue reading
The Youth Unemployment Crisis and the Colorado Shooting
For young people facing a tough job market, the chances of tragedies increase: suicide rates spike, as does the incidence of violence So far, there’s not a whole lot known about James Eagan Holmes, the 24-year old whom police say fatally shot 12 people and injured dozens more in a suburban Denver movie theater during … Continue reading
What does the bad Job Market mean for you as a job seeker?
So what does the bad Job Market mean for you as a job seeker? Tempting as it is to just hide in Mom’s basement, instead use what you know about the numbers to impact how you look for jobs. Lots of jobs that you might find on national job boards are going to attract a … Continue reading
President Obama on the Economy vs Golf
As of last week, the president had played 102 rounds of golf since taking office. According to White House reporter Keith Koffler, each golf outing takes about five hours. Using arithmetic — something apparently unfamiliar to Democrats, given their staunch refusal to pass a federal budget — Obama has spent about 510 hours golfing. This … Continue reading
China – Slower growth but tight job market
Workers living through the slowest run of global economic growth in more than three years are in fear for their jobs everywhere except in the very place investors are most concerned about – China. Despite six straight quarters of slowing growth, there are more job vacancies in China than there have been for around a … Continue reading
Fired for THIS. Would you hire them ?
We’ve all done stupid things in our lifetime, no doubt about that. However, there comes a time when ‘just having a little fun’ can cross the line, and even get you fired. Both of these former employees learned this lesson the hard way. Here are two really stupid ways to get yourself fired. Reason #1: … Continue reading
US – 27 states recorded unemployment rate increases
Regional and state unemployment rates were little changed in June. Twenty-seven states recorded unemployment rate increases, 11 states and the District of Columbia posted rate decreases, and 12 states had no change, the U.S. Bureau of Labor Statistics reported today. Forty-seven states and the District of Columbia registered unemployment rate decreases from a year earlier, while three states experienced increases. … Continue reading
Unemployment – Hard on Confidence And Psychology
Of the 12.5 million unemployed people in the United States, over 5 million have not been able to land a job for 27 weeks or longer, putting them in the ranks of the long-term unemployed. Worse still chances of them getting a job anytime soon are also fast fading. Not only are the long-term unemployed … Continue reading
German-Style Apprenticeships – Would it Work in the U.S.?
In a world of high youth unemployment, where the supply of skilled labor often fails to match employer demand, Germany believes help can be found in its Dual Vocational Training System (TVET)—a time-tested economic model now incorporated into the Federal Republic’s law. This program, many supporters believe, is the reason why Germany has the lowest jobless rate among … Continue reading
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